Equinox Gold Corp. is pleased to announce that it has entered into a binding share purchase agreement with certain funds managed by Orion Mine Finance Management LP to acquire Orion's 40% interest in Greenstone Gold Mine GP Inc., giving
Equinox Gold 100% ownership of the Greenstone Mine in Ontario, Canada . Under the terms of the SPA,
Equinox Gold will pay $995 million to acquire Orion's 40% interest in Greenstone, payable as follows: 42.0 million common shares of
Equinox Gold valued at $250 million; $705 million in cash payable on closing; and $40 million in cash payable by December 31, 2024.
Equinox Gold will fund the cash consideration with net proceeds from both a new $500 million three-year term loan and a bought de...